WASHINGTON (CNN) — President Barack Obama told a group of business leaders at the White House on Wednesday that the country “cannot afford inaction or delay” on the economy at a time when people “are looking to Washington for action — bold and swift.”

corner_wire_BL Obama says country cannot afford inaction on economy

Obama was seeking corporate America’s support for a proposed $825 billion stimulus package hours before a critical vote in the House of Representatives.

Obama said the federal government can “help create a favorable climate in which workers can prosper, businesses can thrive, and our economy can grow. And that is exactly what the recovery plan I’ve proposed is intended to do.”

“Most of the money we’re investing as part of this plan will get out the door immediately and go directly to job creation, generating or saving 3 to 4 million new jobs. And the vast majority of these jobs will be created in the private sector — because, as these CEOs well know, business, not government, is the engine of growth in this country,” he said.

The president also promoted the stimulus proposal earlier Wednesday at a meeting with a smaller group of corporate executives, including the heads of Google, JetBlue, Eastman Kodak, Motorola and Xerox.

Reblog this post [with Zemanta]
Add this article to: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • StumbleUpon
  • bodytext
  • Facebook
  • Reddit
  • TwitThis
  • del.icio.us
  • Live
  • Technorati